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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Interest revenue    
Loans, including fees $ 4,407,943 $ 3,848,013
U.S. treasuries, government agencies and FHLB stock 53,689 32,684
Municipal and corporate bonds 94,411 113,969
Mortgage-backed securities 275,008 338,906
Federal funds sold and other bank deposits 110,719 54,408
Total interest revenue 4,941,770 4,387,980
Interest expense    
Deposits 875,064 660,458
Borrowed funds 258,588 134,270
Total interest expense 1,133,652 794,728
Net interest income 3,808,118 3,593,252
Provision for loan losses 60,000 160,000
Net interest income after provision for loan losses 3,748,118 3,433,252
Noninterest revenue    
Service charges 120,584 119,199
Gain on sale of loans held for sale 9,542
Earnings on bank-owned life insurance 113,525 122,576
Other 47,123 24,717
Total noninterest revenue 290,774 266,492
Noninterest expenses    
Salaries 1,467,581 1,459,998
Employee benefits 411,842 393,174
Occupancy 271,828 260,838
Advertising 17,024 27,028
Furniture and equipment 90,299 83,984
Data processing 192,654 164,850
Legal services 56,338 101,890
Other professional services 98,316 180,302
Deposit insurance premiums 101,109 57,128
Foreclosed real estate expense and losses 1,186
Other operating 452,468 422,647
Total noninterest expense 3,159,459 3,153,025
Income before income taxes 879,433 546,719
Income tax expense 154,342
Net Income $ 879,433 $ 392,377
Net income per common share:    
Basic (in dollars per share) $ 0.27 $ 0.12
Diluted (in dollars per share) $ 0.27 $ 0.12